PlanIt

We have updated our PlanIt submission requirements. You are now welcome to submit a full business plan or a business canvas with a 3-5 page executive summary (need to include graphs, images or additional data? That's fine! You can have an appendix to support your summary) that addresses and expands on the questions on the canvas. Applicants or teams must put due diligence and effort into their submission and address all questions on the canvas template to be considered.

Submissions can be from an individual or a team. Your team can be cross-faculty and have a maximum of five people. Your team may include members who are not current students, but the Team Lead must be a current UVic student (undergraduate or graduate level), faculty/staff member or recent UVic alumni (within three years of graduation). All participants must have a Social Insurance Number to compete.

Students are able to compete in PlanIt more than once if the business plan or canvas is substantially improved or the business has pivoted between submissions. You will need to demonstrate that you have used the previous prize money (if applicable) effectively and you will be held to the standard of what your plan or canvas is for the next phase of development. You will also need to indicate in your submission that you have competed previously.

Submit your business plan or canvas and executive summary to be considered for the competition. If considered viable, your team will be asked to present your business plan or canvas to a team of experts (typically the screening committee will choose the six strongest business plans). All presentations will require a pitch deck and will be approximately 15 minutes in length, with a question and answer period with the judges after the presentation.

Submit by email to icead@uvic.ca by sending the following information:

In the body of your email, indicate:

Name (last, first) - Team lead

Mailing address

Email

Faculty, department, year of study (or indicate year convocated)

Name (last, first) - Team member

Mailing address

Email

Faculty, department, year of study (or indicate year convocated)

Name (last, first) - Team member

Mailing address

Email

Faculty, department, year of study (or indicate year convocated)

Name of venture idea

Summary of venture idea (3-5 sentences)

Please indicate if your business plan or canvas has a social innovation or sustainability component (to be considered for the best social or sustainable entrepreneurship plan cash award)

Please indicate if you have competed in PlanIt previously (students are permitted to enter twice, and third time by special permission)

Attach your submission in PDF format to your registration email and submit by the registration deadline.

After the screening committee has reviewed your business plan or canvas, we will be in contact with the team lead by email.

If your business plan or canvas is selected as a finalist, we will also inform you of a scheduled time for the PlanIt presentation to the external judging panel on presentation day. Presentation day is held throughout normal business hours (8:30-4:30).

Your submission should be by email (including the registration info requested on the "How to submit" tab in the body of your email), and one attached pdf document, with supporting charts, graphs or images embedded.

Your submission should be by email (including the registration info requested on the "How to submit" tab in the body of your email), and one attached pdf document, with supporting charts, graphs or images embedded.

Criteria

The criteria below will be used for assessing the top three awards. The social or sustainable enterprise award will consider similar criteria but will be awarded based on social impact. For example, criteria such as the team members' dedication to the venture will be the same for all four awards, but the social or sustainable venture award will consider profitability and competitive positioning subordinate to social impact and sustainability.

What do judges look for in a plan? The judges consider many different issues when evaluating executive summaries and business plans, including:

Is the business opportunity as presented both highly attractive and clearly realistic?

Is the business defensible from competitors?

What is the business model?

What comparisons are there to past success stories that indicate this venture will succeed?

What is the amount of up-front capital investment required?

Do the market and financial projections demonstrate that the team understands its business?

How long will it take from the current stage of development to bring this to market?

Can this venture achieve a leadership position in its market?

Has the team already gone out to the market to test its ideas? Who will be the first customer(s)?

Is the team of sufficient breadth, balance, and quality to make its ideas happen?

Is the team focused on its target market? What is the expected time and amount of pay-off to investors?

Is the plan clear and well-written?

Does the team have the necessary communication skills to present a compelling story?

What roles will the team members play in the venture?

Are the team members dedicated to the venture and their roles in the group?

Does the team have a clear plan for spending the investment money it receives?

Why is this business going to be around, and a real world winner, in five years?

Does the plan and the team promoting it have the entrepreneurial spirit to succeed?